Scotgold Resources Limited Announces Resignation of Phil Day as Chief Executive Officer

Scotgold Resources Limited is an Australia-based company that is engaged in the development and bringing to a state of production of the Cononish gold and silver mine and mineral exploration. The Company is primarily focused on the development of its high grade Cononish Gold and Silver Project in the Scottish Highlands, together with the exploration of tenements in the Grampian region of Scotland (the Grampian Gold Project). The Cononish Gold and Silver Project's reserve of gold is confined to a single narrow, near-vertical quartz vein extending above and below the main access on approximately 400 meters of level. The Grampian Gold Project is focused on identifying gold and base metal mineralization within the Grampian Terrane. The Company holds approximately 13 option agreements with the Crown Estate Scotland, which constitute the Company's Grampian Project within the Scottish Highlands. These option agreements cover an area of approximately 3000 square kilometers.